REMI Names D.C. “Toby’s Choice” Market of the Week

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The Real Estate Marketing Insider named its “Toby’s Choice” Market of the Week as Washington, D.C.’s metro area. The “Toby’s Choice” award is given to a real estate market which shows growth or promise in mid-range houses. This week’s award went to D.C. upon release of news in the West End Alexandria Patch that home prices in the area are continuing to rise steadily.

Like most urban markets in the country, Washington, D.C.’s real estate market was hit by the 2008 recession. In April 2009, shortly after the housing market collapse, the D.C. price index bottomed out, but it has been recovering slowly since then. In November 2012, the price index rose to 188.12, an 8-point increase from one year earlier and almost a 20-point increase from the April 2009 nadir. Meanwhile, price averages have been rising as well. December’s average sale price was just under $495,000, a 7-percent increase from one year earlier.

There’s no market in the U.S. quite like Washington. Its unique profile as a large metropolitan market and the national government seat means that there is a constant demand for housing in the city with a heavy flow of buyers and sellers. As the economy recovers, the demand will increase in the area, and well-positioned realtors will have no trouble selling properties. Local advertising, such as real estate postcard marketing, will go a long way in getting homes sold, because so much of the government population scopes the area in person. Every realtor should look at selling in REMI’s Toby’s Choice Market of the Week; it’s a high-volume, low-overhead area that promises to sell quickly and easily.

The Real Estate Marketing Insider gave its Toby’s Choice Market of the Week award to Washington, D.C., and the metro area surrounding it. D.C. has been enjoying increasing home prices for the last few months, and the Insider recommends that realtors maintain some listings in this high-volume area.

About the Real Estate Marketing Insider:
The Real Estate Marketing Insider helps realtors and agents stay up-to-date with news, trends and analysis. The online journal is based in La Jolla, Calif.